Auto Parts 4Less Group Inc (FLES)

[DKEZ]

The reason so many shares were diluted from $2 down to now with little effect on the amount of debt being paid is because of the April 24, 2020 note with $738k principal at 1/31. The note originally had conversion price of 50% of the trading price for 20 days prior but on the 10k(released almost 4 months late) it shows the conversion price had been changed to show “but not higher than .005”.

That was the whole reason for the delays in getting current this whole time.

This means that during the time that the financials were late it was considered default and could convert for shares at the rate of .005 while the stock was trading as high as $2. Considering they weren’t current until 11/20 it was able to convert shares at a disgustingly discounted level for 6 months, because the financials were “LATE”.

If there’s any conspiracy to read into or something to take these guys down in the form of a lawsuit it’ll be related to that note.

Anyone have any input? That noteholder is almost guaranteed to be associated with Tim/Chris and definitely needs to be named. That note with original principal of $738k has made them no less than $10M and possibly much more but I haven’t taken the time to work the math based on volume and dilution. Not to mention it’s still owed over $500k !!!

Is this worth having someone looking into?